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Examveda

Type of accounting which reports to external parties of organization is known as

A. cost accounting

B. decision accounting

C. financial accounting

D. management accounting

Answer: Option C

Solution(By Examveda Team)

Type of accounting which reports to external parties of organization is known as financial accounting. Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

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